BLANK GETS READY FOR TRIP BACK TO LLOYDS

first_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapp Tags: NULL KCS-content whatsapp Thursday 2 September 2010 7:45 pm SKY’S HARD CUTSSKY News came up with a novel way to market its new special series on the effects of the Budget cuts. The Capitalist was surprised to receive a solid plastic invitation with a pair of metal scissors attached to it, bearing the Sky News logo. See what they’ve done there? Scissors… Cuts… You already got it? Oh. The day of programmes will “ask where the cuts are already biting and find out whether the public is yet engaged”.It will be presented by Dermot Murnaghan, which the blurb informs me is “the man who got on his bike to check out the economic cycle in 2009.” This time he will be presenting in locations from Scotland to the South West of England. Hopefully he won’t be forced to travel all that way on his bicycle or the economy won’t be the only thing in trouble.SADDLE-SORE BORISWhich brings us nicely to what is becoming our daily slot on Boris’ adventures on two wheels. Yesterday he took to the streets again, this time with transport secretary Philip Hammond. The two posed with new bikes before riding off into the sunset. With all this cycling it’s a wonder the mayor has a chance to get anything done. Hopefully, he’ll take some time out of the saddle to attend City A.M.’s inaugural awards ceremony, where he is nominated for Personality of the Year. Share Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com SIR Victor Blank, who quit Lloyds Banking Group last year in the aftermath of its controversial merger with HBOS, is returning in a few days’ time for a happy occasion.Blank is there as the guest of current chairman Sir Wyn Bischoff who is hosting an unveiling ceremony of a portrait of his predecessor in line with a Lloyds tradition that dates back to 1868. The first Lloyds chairman to have his portrait adorning the offices in Gresham Street is Timothy Kenrick, who chaired Lloyds from 1865 to 1868.The timing of the unveiling of the Blank portrait is noteworthy: for it is nearly two years to the day that Blank and chief executive Eric Daniels sealed the ill-fated merger with HBOS. Some shareholders are still trying to string Blank up for the deed, but there are others who think the merger may come good in the end.Blank’s portrait was painted by UK artist John Keane, whose portraits have included the late Northern Ireland Minister Mo Mowlam and Channel 4 presenter Jon Snow. Keane was also the official British artist during the Gulf War.STRICT DRESS CODEON the subject of unveilings, the venerable Terry Smith will cut the ribbon on an a long-awaited statue of WWII hero Sir Keith Park (see right).Smith, a face so recognisable in the City he is surely in line for a portrait of his own one day, has campaigned hard for the RAF commander. The unveiling of the memorial, in Waterloo Place, is very much a dressy affair. The Capitalist was slightly relieved to discover serving vice-air marshalls were not required to bring their swords. Full ceremonial dress, however, is mandatory. Even civilians are asked to wear a lounge suit, as a mark of respect.Park is credited as being the mastermind behind the defeat of the Luftwaffe. As part of the campaign a version of the statue has adorned the Fourth Plinth in Trafalgar Square. BLANK GETS READY FOR TRIP BACK TO LLOYDS last_img read more

ANALYST VIEWS:?WHAT DOES JAPAN’S MOVE TO INTERVENE MEAN?

first_imgWednesday 15 September 2010 8:16 pm Tags: NULL Show Comments ▼ SIMON DERRICK | BANK OF NEW YORK MELLONThe intervention by Japanese authorities was in the top ten largest interventions this year. It’s been very successful on the day. It’s interesting that there seems to be support from the EU for the intervention.ASHRAF LAIDI | CMC MARKETSIt doesn’t mean much for the sterling-yen trade, though we could see a brief reprieve in the rates. It’s not the start of a systematic intervention but Japan can now try to run the show with additional verbal warnings.CHRIS REDFERN | MONEYCORPLast week Japan reached the end of its tether, and this could be a bit of a short-term move to point the market away from endless rises in the currency. We could see more interventions,?the yen is no longer a one-way street. whatsapp Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldMaternity WeekThis Was Found Hiding In An Oil Painting – Take A Closer LookMaternity WeekJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USA ANALYST VIEWS:?WHAT DOES JAPAN’S MOVE TO INTERVENE MEAN? KCS-content More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com whatsapplast_img read more

London Stock Exchange looks to provide a clearing service to City

first_img London Stock Exchange looks to provide a clearing service to City Share KCS-content Sunday 19 September 2010 10:42 pm whatsapp THE London Stock Exchange (LSE) has entered into discussions with a raft of European and Wall Street banks about funding and building a clearing house in London, it is understood.LSE chief executive Xavier Rolet, who took over from Clara Fuse in May last year, is thought to be at the forefront of the discussions. A clearing house ensures that trades between a buyer and seller are completed, even if one party fails to pay.If the LSE goes ahead with the plans it will compete with European rivals Eurex, which is owned by Germany’s Deutsche Borse, and NYSE Liffe, which is the former London International Financial Futures Exchange.The news comes amid reports that the LSE is on the hunt for a successor for its chairman, Chris Gibson-Smith But a City insider told City A.M.: “If you are asking if there is a hunt for a new chairman, the answer is no. The situation is in about two years time it is possible that Chris may decide to step down but that’s two years away. It’s pure speculation.” More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comcenter_img Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tags: NULLlast_img read more

Luxury names sign for One Hyde Park

first_img whatsapp Luxury names sign for One Hyde Park KCS-content Tags: NULL Sunday 7 November 2010 8:37 pm Share Show Comments ▼ whatsapp OPULENT brands Rolex and Chanel are on the verge of signing a deal to take the final two shops at One Hyde Park, the £1bn London development by Nick and Christian Candy.British watchmaker Rolex is believed to have signed for the second retail space in the development, which is slated as London’s most expensive residential complex.Parisian fashion house Chanel is also on the verge of signing a lease for the third and final spot in the luxurious development.Seven other possible tenants were reportedly in talks with the Candy Brothers over leasing the retail lots, though the two brands are thought to have secured a deal according to reports yesterday.The pair join high-performance car manufacturer McLaren, which snapped-up the first of the three retail lots at the Knightsbridge development for its new flagship showroom in August.The Formula 1 racing giant will open at the Hyde Park site in time for the launch of its new McLaren MP4-12C next spring, the first in the Woking-based company’s new range of high-performance sports cars.The development combines residential and retail properties, including 86 apartments starting at around £20m each. A penthouse in the complex was sold for a record-breaking £140m in August, making it the most expensive residential property in Britain.The glamorous complex is designed by Lord Rogers’ firm Rogers Stirk Harbour and Partners and features four futuristic pavilions, interlinked by lobbies, lift shafts and stairwells, and looks out over Hyde Park’s famous Serpentine lake.Private lifts in the apartments will contain eye scanners to keep outsiders from accessing residential floors, and the building has been constructed from as many as 15 types of stone from as far away as Egypt and China.The Candy brothers are also known for their bid to redevelop the Chelsea Barracks. The bid collapsed after the Prince of Wales allegedly raised architectural objections with their Qatari partners. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org last_img read more

BHP Billiton pursuit of Potash over

first_img KCS-content Tags: NULL GLOBAL mining giant BHP Billiton last night killed off its protracted $39bn (£24bn) pursuit of Potash, the world’s biggest deal this year, and said it would return $4.2bn (£2.6bn) to investors through a share buyback.The move comes after Canada blocked BHP’s bid for the world’s largest fertiliser maker on 3 November and gave BHP a month to demonstrate the takeover would benefit Canada.BHP gave up the fight in its third straight failure to seal a major acquisition under chief executive Marius Kloppers, and bowed to calls from some shareholders for a return of capital, signalling it has limited opportunities for other big takeovers.Kloppers has long said the company would prefer to spend its cash pile on development projects and acquisitions rather than giving it back to shareholders.In a statement released late last night, Kloppers said: “Unfortunately, despite having received all required anti-trust clearances for the offer, we have not been able to obtain clearance under the Investment Canada Act and have accordingly decided to withdraw the offer.”BHP said Ottawa was asking for too many concessions beyond the more than $1bn worth of undertakings the company had already offered as benefits to Canada.BHP said it would book $350m (£217m) in costs for the Potash deal. Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsappcenter_img BHP Billiton pursuit of Potash over by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For Life Show Comments ▼ Sunday 14 November 2010 11:32 pm whatsapplast_img read more

John Lewis sees £88m in week’s sales

first_img Tags: NULL John Lewis sees £88m in week’s sales Monday 22 November 2010 6:32 am Show Comments ▼ SHOPPERS have been flocking to buy goods in the run up to Christmas, according to John Lewis’ latest sales figures, released today.Last week £88m was spent in the department store, a 12 per cent jump from the same time last year.New gadgets are selling well, such as Kindle Readers, iPads, iPods and SLR digital cameras. Consumers may be stocking up before VAT is pushed up to 20 per cent in the new year. UK retail sales have recently picked up, increasing by half a per cent between September and October. Last month’s figures were slightly lower than at the same point last year, but John Lewis’ announcement offers hope for a greater jump in high street sales this month.Sales through the John Lewis website are up 42 per cent from last year, reflecting huge increases in internet purchases across the sector.However, Director of Operational Development Lesley Ballantyne, insists that the group’s “bricks and clicks” policy is seeing improved sales in-store, as well as online. Warm clothing and household items are also flying off the shelves, said Ballatyne, as shoppers battle the cold weather and prepare their homes for the holiday period.The figures were described as “largely encouraging” by Howard Archer of IHS?Global Insight. However, he warned that while John Lewis has traditionally been seen as a bellwether for the industry, “it has recently been outperforming the retail sector as a whole.”The news came as a household finance survey revealed that people are getting in more debt to pay for their spending.The Markit Household Finance Index, based on data from Ipsos MORI, said that a rise in household spending “came at the expense of a survey record rise in debt and a steep fall in savings.”As incomes fall, 29 per cent of respondents indicated a worsening of their finances (compared to seven per cent saying theirs had improved). Recognising the pinch on consumers, Tim Moore, an economist at Markit, said that “…falling incomes mean that higher spending is resulting in more debt and lower savings.” Share center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsapp KCS-content More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comlast_img read more

Investors are right to be cynical

first_img Share whatsapp whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comConnecticut man dies after crashing Harley into live bearnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tags: NULL KCS-content center_img HOW times have changed. During the boom years, venture capitalists were lining up to give billions of dollars to internet start-ups. The theory was that if you threw enough cash at these fledgling firms, some of it would stick to the next Google or Facebook. Losses that ran into the millions of dollars were the norm. That’s why Spotify is more than a little irked at all the recent nay saying, which followed news that it posted a £16.7m loss in 2009. Its fans argue that losses are to be expected at this stage in the game: Spotify is trying to revolutionise digital music sales – and that doesn’t come cheap. Such bullishness doesn’t ring true. Venture capital is thin on the ground, and Spotify is in desperate need of extra cash – it finished 2009 with £14m in cash and assets, versus £21.46m of liabilities.In the glory years, venture capitalists would have made hay by selling to an old-fashioned media conglomerate; the likes of Rupert Murdoch’s News Corp and Time Warner were desperate to buy digital businesses of every hue just to keep up with the times.Not so any more. With just a few exceptions, most of these ventures have been a disaster. Earlier this month, News Corp president Charles Carey warned that losses at the social network it bought for $500m in 2005 were “neither acceptable nor sustainable”. And AOL?recently sold Bebo, the social network it bought for $850m in 2008 while it was still part of Time Warner, for less than $10m. Few media companies want to follow in their footsteps. The fact remains that the amount Spotify must pay in royalties to labels and publishers (£18.82m in 2009) is growing faster than subscription revenues (£6.81m) and advertising sales (£4.51m). As the service adds more users, it will have to pay more royalties, pushing the break even point ever further into the [email protected] Investors are right to be cynical Show Comments ▼ Tuesday 23 November 2010 7:10 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical Geniuslast_img read more

CSC closes in on Trafford Centre mall

first_img whatsapp CAPITAL Shopping Centres (CSC) confirmed yesterday it was close to buying the Trafford Centre in Manchester for a total of £1.6bn. The retail property group said it was in advanced talks with current owner Peel Holdings, which has held the shopping centre since it was built in 1998 at a cost of £600m. CSC plans to issue £750m in new shares and convertible bonds to Peel, as well as taking on £800m net debt from the firm if the deal goes ahead. Peel, which is privately owned by property billionaire John Whittaker, will own 19.9 per cent of CSC as part of the deal. Peel could also convert bonds it receives through the sale into shares, giving it a 24.9 per cent stake and making Whittaker the largest investor in CSC. He will become a non-executive director and deputy chairman of the CSC board, the firm said. CSC announced that it was also considering an equity placing worth up to 9.9 per cent of existing shares, worth £221m at yesterday’s closing price, to help fund the purchase and pay down debt. However, the total amount raised is likely to be lower as the stock becomes diluted by the two share issues. Seymour Pierce analyst Sue Munden, who currently has a “sell” rating on CSC, told City A.M. yesterday: “This move is to be welcomed. Obviously the share placing is going to have a dilutive effect, but it is a way for the company to attract investors at a time when they are acquiring a high profile asset.“We have always believed that the operational management of the group is strong but they have been held back, in our view, by a weak financial structure.”Shares closed 5.1 per cent lower yesterday at 337.4p.SIMON MACKENZIE-SMITHMERRILL LYNCHCAPITAL Shopping Centres (CSC) has taken on Bank of America Merrill Lynch and UBS to advise on its planned share placing. Simon Mackenzie-Smith and Simon Fraser are heading the team at BAML. Mackenzie-Smith has been with Merrill Lynch since 1996, when he joined as managing director of investment banking. He is credited with being instrumental in establishing the bank’s UK franchise, and has been involved in a wide range of mergers and acquisitions and restructurings – including Punch’s acquisition of managed pubs operation Spirit in 2006.Co-head of corporate broking Simon Fraser has spent 14 years at the bank, working alongside Mackenzie-Smith on the Segro, Debenhams and Liberty deals, as well as Inchcape, Natex and SSE.UBS corporate broking managing director Jonathan Bewes and head of investment banking Hew Glyn Davies are also advising. Davies has several retailers among his client list including Sainsbury’s and Northern Foods, as well as Bank of Ireland, which completed a €1.7bn rights issue in June.Bewes worked with Davies to advise Capital Shopping Centres when it split from Liberty in March this year. He has also worked with AMEC, chemicals firm ICI and broadcaster Carlton during its £4bn merger with Granada. Wednesday 24 November 2010 8:41 pm CSC closes in on Trafford Centre mall KCS-content Share whatsapp Show Comments ▼ Tags: NULLlast_img read more

Snow excuse for low retail sales

first_img whatsapp Tags: NULL Retailers mostly overcame the December blizzards to post respectable sales figures, business advisory group BDO said yesterday. Despite the coldest December for 100 years, sales dropped by just half a per cent. And some stores, such as John Lewis, reported healthy sales growth. Fears of products being snowed into factories failed to materialise, as non store sales (such as internet purchases) were up 45 per cent, said BDO. Stores with underlying problems can’t use the snow as an excuse for large drops in sales, BDO said. whatsapp KCS-content Share Snow excuse for low retail sales center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Sunday 9 January 2011 10:34 pm last_img read more

FREW STEPS UP FOR THE 30 PER CENT CLUB CAUSE

first_img whatsapp whatsapp Show Comments ▼ GOOD news – of a kind.The 30% Club has finally found a female chairman to join its ranks. For those not au fait with the club’s goings-on, it was founded to pursue the “aspiration” of getting boards at the UK’s top companies to be at least 30 per cent female by 2015. While the club, founded by Helena Morrissey, chief executive of Newton Investment Management, is led by a dozen or so other female executives and a handful of dashing gents, it had yet to recruit a chairwoman to bolster its promotion of female figureheads at the pinnacle of their businesses. The new “supporting member”, as they’re called, is one Anita Frew, chairwoman of Victrex, who is well-placed to preach about increased gender balances, having already achieved the 30 per cent target on her own board and contributing to it elsewhere by being a non-executive for Lloyds.Though to be honest, The Capitalist was rather surprised to learn that the club had only just found a chairwoman to take up the banner – but better late than never, as the saying goes. BRIDESMAID IN CHINATravelex gets in touch to report a peculiar trend in cross-border payments to China: the firm has seen a “dramatic shift” in payments made by small and medium-sized businesses (SMEs) to Chinese suppliers.Instead of putting in orders for the usual machinery and recreational goods, SMEs are splashing capital in China on… china. But, aside from the possibility of a spate of plate-smashing tantrums, what could explain the sudden rush for imports of crockery?Travelex managing director David Sear has a surprising explanation: “The confirmation of the date of the royal wedding has created a sunny micro climate for businesses focused on commemorative memorabilia,” he says. “Year-on-year comparisons show a substantial increase in the number of payments to China since the date of the royal wedding was announced.”It seems payments to China increased 14 per cent following the announcement and 24 per cent on the comparable period last year.So much for naysayers who claimed the four-day holiday in aid of Will ’n’ Kate tying the knot would dent economic growth. They clearly underestimated Brits’ appetite for eating off cheesy photos of the happy couple. FUNNY MONEY The spike in global food prices has driven unrest from Tunisia to China and it seems analysts are ever-restless in their quest to think of colourful new ways to describe the crisis. Step up a bevvy of Societe Generale forex boffins.Tracing global inflation back to the Fed’s obsessive pressing of the “print” button at greenback HQ, they describe the dilemma thus: “Mad money – the root of all evil?”If “all evil” can be summarised as “Chinese overheating and food protests”, the question can be answered rather easily, it seems to us. FREW STEPS UP FOR THE 30 PER CENT CLUB CAUSE center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Share Tags: NULL KCS-content Thursday 3 February 2011 7:15 pmlast_img read more